A Guide for Seniors: Protect Yourself Against Investment Fraud
Seniors are often the target of fraud. However, with some basic understanding of how scam artists work, you canavoid fraud and protect your hard-earned money. Learning how to invest safely can mean a huge difference in your retirement years.
Seniors are particularly vulnerable to tactics of scam artists who are “nice” or attempt to develop a false bond of friendship.
Scam artists prey on seniors who are polite to others and have difficulty saying "no" or feel indebted to someone who has provided unsolicited investment advice.
What can I do to avoid being scammed?
Ask questions and check out the answers.
Fraudsters rely on the fact that many people simply don't bother to investigate before they invest. It’s not enough to ask a promoter for more information or for references—fraudsters have no incentive to set you straight. Savvy investors take the time to do their own independent research and talk to friends and family first before investing. Make sure you understand the investment, the risk attached, and the company’s history. And remember, if the product sounds too good to be true, it is!
Read More on Investment Scams (pdf)
